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Chinese Blockbuster “Alibaba” Launches Cryptocurrency Mining Platform

[…”For Alibaba (BABA) the Chinese e-commerce behemoth with its sights set on global domination, the cryptocurrency world was never too far away. Alibaba recently launched a cryptocurrency mining platform called “P2P Nodes,” according to a report by Coin Telegraph. (See also: 10 Companies Owned by Alibaba.)

As cryptocurrency fever has swept the world, more businesses have looked to get on board with the digital currency craze. And yet, Alibaba’s new venture is not a cryptocurrency. So what exactly is P2P Nodes? And what does it mean for Alibaba and the business world?” …] (1)

[…When asked his feelings on digital currency, Ma claimed to be “totally confused,” explaining that “even if it works, the whole international rules on trade and financing are going to be completely changed.”

At the same time, Ma – whose net worth tops $46 billion – was quick to praise the advent of blockchain technology, suggesting his company had already looked into ways to harness this tool. …] (1)

(Chinese: 阿里巴巴集团控股有限公司; pinyin: Ālǐbābā Jítuán Kònggǔ Yǒuxiàn Gōngsī) is a Chinese multinational e-commerce , retail, Internet and technology conglomerate founded in 1999 that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals, as well as electronic payment services, shopping search engines and data-centric cloud computing services. It also owns and operates a diverse array of businesses around the world in numerous sectors.[2]

In 2012, two of Alibaba’s portals handled 1.1 trillion yuan ($170 billion) in sales.[3] At closing time on the date of its initial public offering (IPO), 19 September 2014, Alibaba’s market value was US$231 billion.[4]

As of January 2018, Alibaba’s market cap stood at US$490 billion.[5] It is one of the top 10 most valuable and biggest companies in the world.[6]